43,400 Shares in SEI Investments Company $SEIC Acquired by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board invested approximately $3.37 million in SEI Investments Company by acquiring 43,400 shares in the first quarter of the year.
• SEI Investments reported earnings per share of $1.78 for its last quarter, significantly exceeding the consensus estimate of $1.18.
• The stock has fluctuations, with a 52-week low of $64.66 and a high of $93.96, and currently has a market cap of $10.84 billion.

Canada Pension Plan Investment Board purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 43,400 shares of the asset manager's stock, valued at approximately $3,369,000.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in SEI Investments by 156.1% during the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after purchasing an additional 331 shares during the last quarter. First Horizon Advisors Inc. grew its stake in SEI Investments by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after purchasing an additional 225 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of SEI Investments by 104.3% in the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after buying an additional 681 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of SEI Investments by 1,563.4% in the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after buying an additional 1,282 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of SEI Investments in the first quarter worth about $132,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Buying and Selling

In related news, CEO Ryan Hicke sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the sale, the chief executive officer owned 171,260 shares of the company's stock, valued at approximately $15,122,258. This trade represents a 16.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the sale, the insider directly owned 1,300 shares of the company's stock, valued at approximately $115,375. This represents a 79.37% decrease in their position. The disclosure for this sale can be found here. 14.60% of the stock is owned by corporate insiders.

SEI Investments Stock Down 2.3%

Shares of SEI Investments stock traded down $2.05 during mid-day trading on Friday, reaching $87.17. 783,453 shares of the stock traded hands, compared to its average volume of 553,340. The business has a 50-day moving average of $89.77 and a 200 day moving average of $82.86. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The stock has a market capitalization of $10.78 billion, a PE ratio of 16.35, a PEG ratio of 1.35 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The business had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The business's revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that SEI Investments Company will post 4.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SEIC shares. Zacks Research downgraded SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Morgan Stanley restated an "overweight" rating and issued a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Finally, Raymond James Financial upped their price target on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $102.00.

SEI Investments Profile

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.